South Africa's Shoprite Sells Nigerian Operation to Local Firm
Shoprite Holdings, Africa's largest food retailer, has sold its Nigerian operation to Ketron, a Nigerian company owned by a group of local investors, 16 years after it opened its first outlet in the country. The acquisition has been approved by Nigeria's federal competition and consumer protection commission.
Shoprite is the latest South African business to exit the country in the last decade. The retailer operated 25 outlets in eight states but has been struggling with disruptions in imports and foreign exchange laws. Ketron said it plans to open new stores and sell more Nigeria-made products.
InFocus
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In August 2020, South African retail giant Shoprite officially announced its decision to discontinue operations in Nigeria, welcoming interest from various potential investors. A ... Read more »
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Africa's largest retailer, South African-owned Shoprite, has been rumoured to be closing its doors after operating in Nigeria for 15 years. This move has however been denied ... Read more »
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